Chip boom: boon or curse for Korea's household debt? SEOUL, September 10 (AJP) - The chip bonanza is not just lifting South Korea's nominal growth to levels unseen in decades. It is also pushing the household debt ratio toward an 11-year low as gross domestic product expands much faster than borrowing. The household debt-to-GDP ratio could fall toward 80 percent this year - or the lowest level since 79.2 percent in 2015 - if double-digit nominal growth of 15 to 20 percent is sustained in the second half. The ratio had already September 10, 2026

BOK sees chip windfall spreading, inflation risks rising SEOUL, September 10 (AJP) - South Korea's exceptional chip windfall, already swelling corporate profits and public finances, is likely to reach households with a lag and can bolster not just consumption but also housing demand and inflation, the Bank of Korea (BOK) reiterated Thursday. The central bank said in its September Monetary Policy Report pointed to the first-half nominal gross domestic product that grew about 22 percent, the first increase above 20 percent since the ear September 10, 2026

Nearly half of South Koreans oppose Hormuz deployment, poll finds SEOUL, September 10 (AJP) - Nearly half of South Koreans oppose sending military assets to the Strait of Hormuz, a poll released on Thursday shows. The finding comes as Seoul considers contributing to maritime security in the strategic waterway, following the return of a government-led inspection team earlier in the day from the United Arab Emirates (UAE), where it assessed conditions for a possible deployment. The National Barometer Survey or NBS, found that 45 percent of respon September 10, 2026

PM orders preemptive measures to secure crude oil supplies SEOUL, September 10 (AJP) - Prime Minister Han Seong-sook on Thursday ordered officials to secure crude oil supplies in advance amid renewed tensions in the Middle East, citing concerns over possible supply disruptions. Speaking at an emergency meeting at the government complex in central Seoul, Han said South Korea has secured enough crude oil to cover more than 90 percent of last year's volume through October, leaving no immediate concerns about domestic supply. But she ca September 10, 2026

Korea-U.S. defense ties shift from one-sided to industrial partnership SEOUL, September 09 (AJP) - Defense industrial cooperation between South Korea and the United States largely ran one way for decades, with Seoul buying American weapons and relying heavily on U.S. military technology. The once-skewed relationship is becoming more reciprocal as Washington increasingly looks to Korean artillery, shipbuilding expertise and manufacturing capacity to fill gaps of its own. Hanwha Defense USA's entry into a U.S. Army artillery program has provided September 9, 2026

Korea's Gen Z is running out of first-job options SEOUL, September 09 (AJP) - Gen Z may be an unlucky lot. The pandemic stole much of their college life, and the shift to artificial intelligence is now stripping away some of their first chances to gain real work experience. Lee Jae-hong, 27-year-old living in Seoul with his parents, has been applying jobs for two years, and this year, he finds fewer places to apply. "I feel like standing nowhere. I've started hard all my life and graduated from a decent school. But I September 9, 2026

Korean Inc. bottom and top lines at 11-year high Q2 on chip boom SEOUL, September 09 (AJP) - Sales at South Korea's externally audited companies grew at their fastest pace since 2015 in the second quarter as a semiconductor boom bolstered both top and bottom lines of manufacturers. Sales rose 26.7 percent from a year earlier in the April-June period, accelerating from 13.5 percent growth in the first quarter, according to data released Wednesday by the Bank of Korea (BOK). The reading was the highest since the first quarter of 2015. Extern September 9, 2026

Corporate borrowing picks up amid slowing household loans SEOUL, September 09 (AJP) - Bank loans showed mixed trends last month, with corporate borrowing accelerating while household loan growth slowed despite an increase in mortgage-related lending. Household loans increased by 3.4 trillion won (US$2.5 billion) in August, easing from a 5.5 trillion won rise in July, according to data released by the Bank of Korea (BOK) on Wednesday. Corporate loans expanded by 9.7 trillion won, up from 7.7 trillion won a month earlier. The slowdown in September 9, 2026

Outgoing defense minister heads to Croatia on final trip for Chunmoo deal SEOUL, September 9 (AJP) - Outgoing Defense Minister Ahn Gyu-back is heading to Croatia this week, the Ministry of National Defense said on Wednesday. Ahn is scheduled to meet Croatian Prime Minister Andrej Plenković on Thursday and attend a signing ceremony for Hanwha Aerospace's export deal for its Chunmoo multiple rocket launcher. The deal covers the supply of an integrated system including 18 Chunmoo launchers and guided missiles under a contract worth about 435.2 milli September 9, 2026

Lee, Macron pledge efforts to restore Strait of Hormuz SEOUL, September 9 (AJP) - South Korean President Lee Jae Myung agreed with French President Emmanuel Macron to coordinate closely on international efforts to restore freedom of navigation in the Strait of Hormuz and stabilize global supply chains during their summit in Paris on Tuesday. In a joint press conference after the summit at the Élysée Palace, Lee said South Korea and France would continue close coordination to help restore freedom of navigation in the st September 9, 2026